13). Befuddled But Brilliant Old Professor Mullen's Gourmet Food Company sells its product for $60 per...
13). Befuddled But Brilliant Old Professor Mullen's Gourmet Food Company sells its product for $60 per unit. During 2017, it produced 60,000 units and sold 50,000 units (there was no beginning inventory or BI= 0). Costs per unit are: direct materials (DM) $15, direct labor (DL) $9, and variable overhead (VOH) $3. Fixed costs are: $720,000 (FOB) manufacturing overhead, and $90,000 (S&A) selling and administrative expenses. Cost of goods (CGS) sold under absorption costing (ABS) is
A) $1,350,000.
B) $1,620,000.
C) $1,950,000.
D) $1,560,000.
Homework Answers
Calculate cost of goods sold under absorption :
| Direct material | 15 |
| Direct labour | 9 |
| Variable overhead | 3 |
| Fixed manufacturing overhead (720000/60000) | 12 |
| Unit product cost | 39 |
| Sale unit | 50000 |
| Cost of goods sold under absorption | 1950000 |
So answer is c) $1950000
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13). Befuddled But Brilliant Old Professor Mullen's Gourmet Food
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